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One Day After Congressional Grilling, America's Tech Giants Assert Their Dominance

Jeff Bezos, Tim Cook, Mark Zuckerberg and Sundar Pichai figurately took their seats Wednesday in front of the U.S. House Antitrust Subcommittee—the first time all four tech CEOs testified with each other—to plead their case to Congress that they are not operat

Benzinga · -

Jeff Bezos, Tim Cook, Mark Zuckerberg and Sundar Pichai figurately took their seats Wednesday in front of the U.S. House Antitrust Subcommittee—the first time all four tech CEOs testified with each other—to plead their case to Congress that they are not operating as monopolies.

Less than 24 hours later, their grip on America (and the world) looks as tight as ever.

See Also: CEOs Of Amazon, Apple, Facebook And Google Defend Companies During Congressional Antitrust Testimony

Apple Inc.'s (NASDAQ:AAPL) revenues rose 11% year over year from $53.84 billion to $59.7 billion, exceeding the $52.25 billion estimate. The company generated a record operating cash flow of $16.3 billion during its fiscal third quarter.

Facebook Inc (NASDAQ:FB) earned revenue of $18.69 billion, beating the $17.4 billion estimate. Advertising revenue, which accounts for the bulk of sales, rose from $16.624 billion last year to $18.321 billion. Daily active users averaged 1.79 billion in June, up 12% year over year.

Amazon.com, Inc. (NASDAQ:AMZN) reported quarterly earnings of $10.30 per share, a 97% increase from the same period last year. The company reported quarterly sales of $88.91 billion, a 40% increase over sales of $63.40 billion in the same period last year.

Google parent Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL) reported quarterly earnings of $10.13 per share, which beat the analyst consensus estimate of $8.21 by 23%. The company reported quarterly sales of $38.3 billion.

The combined market cap of the aforementioned companies is about $5 trillion. All four stocks are set to hit new all-time highs in Friday's trading session.